The Jewish News Limited Filleted accounts for Companies House (small and micro)

The Jewish News Limited Filleted accounts for Companies House (small and micro)

THE JEWISH NEWS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03302610
THE JEWISH NEWS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2022
THE JEWISH NEWS LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2022
CONTENTS
PAGE
Statement of financial position
1
Notes to the financial statements
3
THE JEWISH NEWS LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2022
2022
2021
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
1,740
–
CURRENT ASSETS
Debtors
6
12,840
39,386
Cash at bank and in hand
2,775
2,987
---------
---------
15,615
42,373
CREDITORS: amounts falling due within one year
7
( 209,002)
( 132,715)
----------
----------
NET CURRENT LIABILITIES
( 193,387)
( 90,342)
----------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 191,647)
( 90,342)
CREDITORS: amounts falling due after more than one year
8
( 455,828)
( 254,058)
----------
----------
NET LIABILITIES
( 647,475)
( 344,400)
----------
----------
THE JEWISH NEWS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2022
2022
2021
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
2
2
Profit and loss account
( 647,477)
( 344,402)
----------
----------
SHAREHOLDERS DEFICIT
( 647,475)
( 344,400)
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 September 2023 , and are signed on behalf of the board by:
Mr R Ferrer
Director
Company registration number: 03302610
THE JEWISH NEWS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2022
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is New Burlington House, 1075 Finchley Road, London, NW11 0PU.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared in accordance with the accounting principles appropriate to a going concern notwithstanding the deficiency in Net Assets at the Balance Sheet date. The directors consider this to be appropriate having regard to the company having being able to settle its liabilities as they fall due after the Balance Sheet date together with the provision of financial facilities by its parent undertaking.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 13 (2021: 15 ).
5. TANGIBLE ASSETS
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 January 2022
12,031
23,648
35,679
Additions
2,320
–
2,320
---------
---------
---------
At 31 December 2022
14,351
23,648
37,999
---------
---------
---------
Depreciation
At 1 January 2022
12,031
23,648
35,679
Charge for the year
580
–
580
---------
---------
---------
At 31 December 2022
12,611
23,648
36,259
---------
---------
---------
Carrying amount
At 31 December 2022
1,740
–
1,740
---------
---------
---------
At 31 December 2021
–
–
–
---------
---------
---------
6. DEBTORS
2022
2021
£
£
Trade debtors
12,840
39,386
---------
---------
7. CREDITORS: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
9,500
9,500
Trade creditors
75,513
47,178
Social security and other taxes
119,764
73,537
Other creditors
4,225
2,500
----------
----------
209,002
132,715
----------
----------
8. CREDITORS: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
30,993
40,500
Amounts owed to group undertakings
424,835
213,558
----------
----------
455,828
254,058
----------
----------
Amounts owed to group undertakings represents a loan due to The Jacob Foundation. The loan bears interest at 1% and is repayable on 29th April 2026.
9. CONTROLLING PARTY
The company is controlled by The Jacob Foundation, the parent charitable company, which holds all the issued share capital.